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Thursday, September 28, 2023

The Forecast Just Changed on Aurora Cannabis Inc. (NYSE:ACB)

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Aurora Cannabis Inc. (ACB) shares are trading at lower $4.65.

To add more color to this target, the company’s high over the last year is $55.68 and the low is $4.56. Over the last 52 weeks, ACB is down -90.59% while the S&P 500 is up 14.20%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, ACB reported a profit of $-108.8 million. Aurora Cannabis Inc. also saw revenues decrease to $52.19 million. In addition, ACB has free cash flow of -$516.67 million as of 06-2020. The company’s EBITDA came in at -$135.1 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. ACB has a short ratio of 5.02 and outstanding shares of 112.57M.

Company Outlook

ACB has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 16.22 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.22. Aurora Cannabis Inc. ACB also noted assets of $2.08 billion at the end of the last quarter. Investors should also keep an eye on sector updates as ACB has historically followed its peers on positive news.

All told, Aurora Cannabis Inc. ACB has strung together solid data and demonstrated underlying fundamentals. At its current valuation, ACB represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Aurora Cannabis Inc. ACB is now commanding a market cap of 523.45M. The company currently does not manufacture its own delta-8-THC products, relying on providers like Area 52 to supply its client base instead. ACB is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of ACB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in ACB, either long or short, and we have not been compensated for this article.

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